The Company has been registered for a period less than five years and hence the provisions of clause 4

(x) of the Companies (Auditor's Report) Order, 2003 are not applicable to the Company.

(xi) Based on our audit procedures and according to the information and explanations given to us, we are of the opinion that the Company has not defaulted in repayment of dues to the financial institutions and banks. The Company has not issued any debentures.

(xii) In our opinion and according to the explanations given to us and based on the information available, no loans and advances have been granted by the Company on the basis of security by way of pledge of shares, debentures and other securities.

(xiii) In our opinion and according to the information and explanations given to us, the Company is not a chit fund or a nidhi/mutual benefits fund/society.Therefore, the provisions of clause 4

(xiii) of the Companies (Auditor'S Report) Order, 2003 are not applicable to the Company.

(xiv) In our opinion and according to the information and explanations given to us, the Company has maintained ACCA STUDY MATERAILS proper records of the transactions and contracts in respect of investments in mutual funds and timely entries have been made therein. All the investments have been held by the Company in its own name.

(xv) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks and financial institution.

(xvi) To the best of our knowledge and belief and according to the information and explanations given to us, in our opinion, the term loans raised were prima facie been either used for the purposes for which they were raised or pending utilisation been temporarily invested in mutual funds.FREE DOWNLOAD FOR PDF Introduction 11

(xvii) According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company, EXAM PREPARATION & TUTORING there are no funds raised on short term basis during the year under audit and hence the question FREE ACCA STUDY MATERIALS of using the same for long term investment does not arise FREE ACCOUNTING BOOKS

(xviii) The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section